Search Results: UDAP/UDAAP

Financial Aid Services Company Ordered to Pay $14.7 Million in Deceptive Practices Lawsuit

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On January 26, 2021, a California federal judge granted the Consumer Financial Protection Bureau’s (CFPB) motion for default judgment against a now-defunct financial aid services company.  The court also granted in part the CFPB’s motion for summary judgment against the company’s founder. The ruling resolves a complaint filed by the CFPB in 2015, previously covered ​by…

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CFPB Announces Another Settlement with Mortgage Lender Resolving Allegations of Deceptive VA Loans

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On October 26, 2020, the Consumer Financial Protection Bureau (CFPB) announced it had a reached a settlement with a Utah-based mortgage lender and broker, resolving allegations that the lender had engaged in deceptive ​acts and practices in violation of the Consumer Financial Protection Act, 12 U.S.C. §§ 5531, 5536 (CFPA),…

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NJ Attorney General Sues National Student Loan Servicer For Deceptive Practices

On October 20, 2020, New Jersey Attorney General Gurbir S. Grewal (“NJ AG”) and the New Jersey Division of Consumer Affairs announced that they had filed suit in New Jersey state court against a national student loan servicer for alleged unconscionable commercial practices and deception and misrepresentations made to thousands of New…

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CFPB Settles with Debt Collector for Over $15 Million

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On October 15, 2020, the Consumer Protection Financial Bureau (CFPB) announced that it has reached a proposed settlement with the nation’s largest debt collector. The CFPB previously reached a consent order with this company in 2015 for alleged violations of the Consumer Financial Protection Act (CFPA), Fair Debt Collection Practices Act (FDCPA),…

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CFPB Settles with Auto Finance Company for Alleged UDAAP Violations

​On October 13, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an auto finance company, alleging that the company’s repossession practices from 2013 through 2019 constituted unfair and deceptive acts and practices under the Consumer Financial Protection Act (CFPA). Specifically, the CFPB…

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CFPB Enters Into Consent Order With VA Lender Over Alleged UDAAP Violations

On August 26, 2020 the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a California-based mortgage lender, resolving allegations that the company violated the Consumer Financial Protection Act (CFPA) and Truth in Lending Act (TILA) by engaging in deceptive acts and practices with…

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CFPB Settles Another Case With Mortgage Company Over Allegedly Deceptive VA Loan Advertisements

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On August 21, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had a reached a settlement with a California-based lender, resolving allegations that the lender had sent deceptive loan advertisements to servicemembers and veterans in violation of the Consumer Financial Protection Act (CFPA), the Mortgage Acts and Practices…

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Pennsylvania AG Settles with Student-Loan Debt-Relief Consumer Financing Company

​On August 4, 2020, the Pennsylvania Office of Attorney General (Pennsylvania AG) announced that it reached a settlement with a company providing financing to consumers seeking student-loan debt relief. According to the Pennsylvania AG, the company violated the Pennsylvania Consumer Protection Law and the federal Truth in Lending Act (TILA) through its alleged…

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